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Thursday, April 24 2014

Drake Gold Resources Inc. Is pleased to provide a Corporate Update. 

Drake Gold Resources Inc. has completed the acquisition of Universal Apparel Company. Consideration for the acquisition consisted of preferred shares owned by Mr. Matousek and a consultant for the company.

M. Kabir, now  the controlling shareholder and director of Drake, states the following, "our website will reflect the profitable textile company recently sold to Drake. It is being completely revamped and we apologize for the delay" 

Drake Gold will continue to own its stake in Parker Technologies as well as the notes in Eagle Oil Holding Company Inc (EGOH:OTC). However, the interest in the leases in Pennsylvania have been used to settle some of the corporation's debts in an effort to strengthen the balance sheet. 

Updates will be forthcoming. 

This release includes forward-looking statements, which are based on certain assumptions and reflects management’s current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions, sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matters not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Posted by: M Kabir AT 03:32 pm   |  Permalink   |  Email

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Universal Apparel and Textile Company

311 Division Street Carson City, Nevada 89703